AG vs. HL

Last updated Apr 2, 2026

Compare and contrast key facts about First Majestic Silver Corp. (AG) and Hecla Mining Company (HL).

Performance

AG vs. HL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Majestic Silver Corp. (AG) and Hecla Mining Company (HL). The values are adjusted to include any dividend payments, if applicable.

AG vs. HL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AG First Majestic Silver Corp.	33.11%	204.32%	-10.47%	-25.99%	-24.73%	-17.24%	9.62%	108.15%	-12.61%	-11.66%
HL Hecla Mining Company	-0.03%	291.70%	2.82%	-12.93%	6.99%	-18.97%	91.83%	44.43%	-40.37%	-24.08%

Fundamentals

Market Cap AG : $10.89B HL : $12.92B
EPS AG : $0.35 HL : $0.65
PE Ratio AG : 62.47 HL : 29.42
PEG Ratio AG : 1.11 HL : 0.12
PS Ratio AG : 8.58 HL : 8.92
PB Ratio AG : 3.95 HL : 4.99
Total Revenue (TTM) AG : $1.27B HL : $1.42B
Gross Profit (TTM) AG : $450.52M HL : $622.20M
EBITDA (TTM) AG : $629.18M HL : $563.50M

Returns By Period

In the year-to-date period, AG achieves a 33.11% return, which is significantly higher than HL's -0.03% return. Over the past 10 years, AG has underperformed HL with an annualized return of 13.19%, while HL has yielded a comparatively higher 21.56% annualized return.

AG

• 1D: 3.21%
• 1M: -29.84%
• YTD: 33.11%
• 6M: 80.96%
• 1Y: 235.07%
• 3Y*: 45.84%
• 5Y*: 6.46%
• 10Y*: 13.19%

HL

• 1D: 2.95%
• 1M: -22.11%
• YTD: -0.03%
• 6M: 56.52%
• 1Y: 250.60%
• 3Y*: 45.42%
• 5Y*: 27.09%
• 10Y*: 21.56%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

AG vs. HL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AG

AG Risk / Return Rank: 94
AG Sharpe Ratio Rank: 97
AG Sortino Ratio Rank: 92
AG Omega Ratio Rank: 90
AG Calmar Ratio Rank: 94
AG Martin Ratio Rank: 96

HL

HL Risk / Return Rank: 94
HL Sharpe Ratio Rank: 97
HL Sortino Ratio Rank: 93
HL Omega Ratio Rank: 92
HL Calmar Ratio Rank: 94
HL Martin Ratio Rank: 94

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AG vs. HL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Majestic Silver Corp. (AG) and Hecla Mining Company (HL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AG	HL	Difference
Sharpe ratio Return per unit of total volatility	3.15	3.43	-0.28
Sortino ratio Return per unit of downside risk	3.13	3.28	-0.15
Omega ratio Gain probability vs. loss probability	1.40	1.43	-0.02
Calmar ratio Return relative to maximum drawdown	5.41	5.34	+0.06
Martin ratio Return relative to average drawdown	17.49	15.21	+2.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AG vs. HL - Sharpe Ratio Comparison

The current AG Sharpe Ratio is 3.15, which is comparable to the HL Sharpe Ratio of 3.43. The chart below compares the historical Sharpe Ratios of AG and HL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	AG	HL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.15	3.43	-0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.11	0.46	-0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.21	0.34	-0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.06	0.01	+0.05

Correlation

The correlation between AG and HL is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

AG vs. HL - Dividend Comparison

AG's dividend yield for the trailing twelve months is around 0.10%, more than HL's 0.08% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AG First Majestic Silver Corp.	0.10%	0.12%	0.33%	0.34%	0.31%	0.14%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HL Hecla Mining Company	0.08%	0.08%	0.81%	0.65%	0.40%	0.72%	0.25%	0.29%	0.42%	0.25%	0.19%	0.53%

Drawdowns

AG vs. HL - Drawdown Comparison

The maximum AG drawdown since its inception was -90.20%, smaller than the maximum HL drawdown of -97.92%. Use the drawdown chart below to compare losses from any high point for AG and HL.

Drawdown Indicators

	AG	HL	Difference
Max Drawdown Largest peak-to-trough decline	-90.20%	-97.92%	+7.72%
Max Drawdown (1Y) Largest decline over 1 year	-42.92%	-45.95%	+3.03%
Max Drawdown (5Y) Largest decline over 5 years	-77.20%	-63.30%	-13.90%
Max Drawdown (10Y) Largest decline over 10 years	-80.82%	-82.45%	+1.63%
Current Drawdown Current decline from peak	-30.74%	-39.69%	+8.95%
Average Drawdown Average peak-to-trough decline	-59.48%	-70.07%	+10.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.27%	16.14%	-2.87%

Volatility

AG vs. HL - Volatility Comparison

First Majestic Silver Corp. (AG) has a higher volatility of 24.09% compared to Hecla Mining Company (HL) at 18.45%. This indicates that AG's price experiences larger fluctuations and is considered to be riskier than HL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AG	HL	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.09%	18.45%	+5.64%
Volatility (6M) Calculated over the trailing 6-month period	59.80%	58.18%	+1.62%
Volatility (1Y) Calculated over the trailing 1-year period	75.27%	73.62%	+1.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	61.07%	59.67%	+1.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	62.37%	62.96%	-0.59%

Financials

AG vs. HL - Profitability Comparison

The chart below illustrates the profitability comparison between First Majestic Silver Corp. and Hecla Mining Company over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

AG - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, First Majestic Silver Corp. reported a gross profit of 238.28M and revenue of 471.05M. Therefore, the gross margin over that period was 50.6%.

HL - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Hecla Mining Company reported a gross profit of 248.21M and revenue of 448.11M. Therefore, the gross margin over that period was 55.4%.

AG - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, First Majestic Silver Corp. reported an operating income of 213.49M and revenue of 471.05M, resulting in an operating margin of 45.3%.

HL - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Hecla Mining Company reported an operating income of 220.04M and revenue of 448.11M, resulting in an operating margin of 49.1%.

AG - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, First Majestic Silver Corp. reported a net income of 84.41M and revenue of 471.05M, resulting in a net margin of 17.9%.

HL - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Hecla Mining Company reported a net income of 134.41M and revenue of 448.11M, resulting in a net margin of 30.0%.